Luanda: The Minister of State for Economic Coordination, Jos© de Lima Massano, stated on Tuesday that the non-oil sector is the fastest growing and currently represents 80 percent of the national gross domestic product (GDP). While providing clarifications on the dynamics of the national economy to members of the National Assembly before the general approval of the 2026 State Budget (OGE), the official said that in 2024, the overall GDP increased by 4.42%, which is a positive variation compared to population growth.

According to Angola Press News Agency, Massano highlighted that the relationship between economic and population growth has improved, with an average annual population growth rate of 3.3%. With the exception of 2023, he noted that non-oil GDP has generated more jobs and direct income in the last five years, growing above the average population growth rate. "In 2026 it will be no different. Regarding price behavior in our economy, we have also observed a slowdown in its evolution," the minister said.

The minister further explained that comparing October of this year with October of last year, there was a drop from 29.17% to 17.4% in price behavior. This trend has favorable repercussions, such as preserving the purchasing power of families, attracting more private investment, ensuring the security of savings, and fostering confidence in the economy. He added that the most significant growth in ten years was recorded in 2024, with around 300,000 new jobs created in the formal sector of the economy.

Parliament passed revenues and expenses estimated at 33.24 trillion kwanzas, which includes the exemption of income tax on labor (IRT) for salaries up to 150,000 kwanzas, among other measures. The proposed General State Budget for 2026 was generally approved with 118 votes in favor, 66 against, and two abstentions. It will now proceed to the specialized committee and then be submitted to a final vote.

OGE 2025, which is currently being executed, was approved with a total value of 26.4 trillion kwanzas, based on an oil barrel price of 70 U.S. dollars.